Thomson Financial has acquired Quant Trading, a supplier of dealing systems and e-commerce software for fixed income trading.
Stamford, Connecticut incorporated Quant has a client base that includes broker-dealers, commercial banks, regional dealers and buy-side institutions. Financial terms of the deal were not disclosed.
Thomson says the acquisition completes its offering for the fixed income marketplace operating under the new Yield One branding. Jim Fiesel, EVP, Thomson Financial’s banking and brokerage group says Quant provides the foundation for one central security master database and a complete STP workflow solution that includes risk management, online P&L, security valuation and analytics, trade capture, order management, bid/offer distribution and repurchase trade.
Dan Pollner, formerly CEO of Quant Trading will become the new head of fixed income development for Thomson's banking and brokerage group, reporting to Ken Wagner COO and Mike Herbert, global head of development.
Thomson Financial will formally launch Yield One for fixed income users early in 2003. Investment management and investor relations product suites will also be introduced later in the year.